J.P. Morgan's Dimon Would Like Corporate Cash to Find a New Home

By

John Carney

April 10, 2014 4:59 p.m. ET

Deposits are the lifeblood of banks, so turning them away would be folly. Or so it would seem.

J.P. Morgan Chase chief James Dimon suggests that may soon happen, at least when it comes to the business of holding idle corporate cash or nonoperational deposits. In his annual letter to shareholders, Mr. Dimon noted these are "hugely unprofitable," especially given new rules governing the amount of liquid assets banks must...